HYDERABAD, Aug 1: A university-industry interaction umbrella project has been initiated to share latest information on science and technology with the entrepreneurs, informed the Adviser Research and Development Department, Higher Education Commission, Dr Altaf Ali Shaikh.

This will help university teachers and the industrial sector to exchange valuable information, he said while speaking to industrialists at the Hyderabad Chamber of Commerce and Industry Secretariat on Tuesday.

There was a communication gap between the two sides in the past which now would be bridged with the help of this project, he said.

Latest research facilities in universities will help us in facing industrial, technical and management challenges, he said.

Developed countries were reducing cost of production by using high-technology in their goods, said Dr Altaf Shaikh. He said that in the past the HEC initiated an industrial research development project but paucity of funds kept it ineffective. The government had now provided funds to the HEC which ensures continuation of this programme up to 2020 he said and added: “The money will be utilised in research development, seminars and educating industrialists.”

He said in the Netherlands about 99.9 per cent research work was being carried out by university teachers and funded by industrialists.

In Pakistan, the government will bear the expense of research development he said adding that to achieve its objective, the HEC had sent 1,200 students abroad for higher education with 1,000 to be sent every year while services of Pakistani experts living there had already been hired. He said the purpose of holding meeting with industrialists was to know problems of the investor.

The HCCI President, Yousuf Suleman praised the research development programme initiated by the HEC as it was non-existent in the manufacturing.